GomSpace Signs Contract With the European Space Agency

STOCKHOLM, July 11, 2018 /PRNewswire/ -- GomSpace A/S - a subsidiary of GomSpace Group AB (the "Company") has signed a 400.000 EUR contract with ESA for the first phase of the RACE project to deliver two 6-unit CubeSats for an IOD mission to demonstrate the capability of nano-satellite systems to perform close proximity operations such as rendezvous and docking, and close fly around manoeuvres.

The Rendezvous Autonomous CubeSats Experiment (RACE) Mission has been conceived by ESA to contribute to system concepts such as autonomous on-orbit assembly of large structures (e.g. optical telescopes, RF antennas) from building blocks, and damage inspection/upgrade of cooperative targets (e.g. larger spacecraft).

GomSpace brings a very strong consortium consisting of GMV Poland/Romania together with Almatech and Micos from Switzerland, encompassing all the needed expertise for delivering the spacecrafts including the guidance, navigation & control algorithms, docking mechanisms and relative navigation sensors for the mission. The first phase of the RACE project will be finalized in Q4 2019.

About GomSpace Group AB

The Company's business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company's Certified Adviser. For more information, please visit our website at www.gomspace.com.